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Business View Australia - July 2015 81

yer

urchaser

Buying a home is usually the single

largest financial decision that a

person makes in his lifetime and

the usual approach is to take a real

estate agents help. But the real

estate agent usually works on behalf

of the seller as well, and this could

result in a conflict of interest. Even in

a situation where the agent plays an

absolutely impartial role, the buyer

may not get the best possible deal.

Back in 2001 Rich Harvey,

founder and managing director of

Propertybuyer saw an opportunity

to work exclusively for the buyer in

home buying and property investor

transactions. He decided that he

would remain completely independent

of selling agencies to maintain

his focus on representing only the

buyer interests as a “Buyers Agent”.

What’s more, the revenue model

he adopted consisted of an upfront

retainer fee collected from the

buyer and a success fee payable

upon completion of the transaction.

Hence his income was entirely from

the buyer and it was a fixed fee and

not a percentage of the purchase

value. This transparent structure

made it very clear that Propertybuyer

was working only for the purchaser.

Describing the inception of the

business, Rich Harvey says, “Our

REAL ESTATE